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Powerball Annuity Jackpot Analysis for Iowa

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $171,000,000 would be for a resident of Iowa, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Iowa

Drawing Date:  Sat, May 30, 2015
Jackpot:$171,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,048,947$762,237$152,447$2,134,263
2$3,170,905$792,726$158,545$2,219,633
3$3,297,741$824,435$164,887$2,308,419
4$3,429,651$857,413$171,483$2,400,755
5$3,566,837$891,709$178,342$2,496,786
6$3,709,510$927,378$185,476$2,596,657
7$3,857,891$964,473$192,895$2,700,523
8$4,012,206$1,003,052$200,610$2,808,544
9$4,172,694$1,043,174$208,635$2,920,886
10$4,339,602$1,084,901$216,980$3,037,722
11$4,513,186$1,128,297$225,659$3,159,230
12$4,693,714$1,173,428$234,686$3,285,600
13$4,881,462$1,220,366$244,073$3,417,024
14$5,076,721$1,269,180$253,836$3,553,705
15$5,279,790$1,319,947$263,989$3,695,853
16$5,490,981$1,372,745$274,549$3,843,687
17$5,710,620$1,427,655$285,531$3,997,434
18$5,939,045$1,484,761$296,952$4,157,332
19$6,176,607$1,544,152$308,830$4,323,625
20$6,423,671$1,605,918$321,184$4,496,570
21$6,680,618$1,670,155$334,031$4,676,433
22$6,947,843$1,736,961$347,392$4,863,490
23$7,225,757$1,806,439$361,288$5,058,030
24$7,514,787$1,878,697$375,739$5,260,351
25$7,815,378$1,953,845$390,769$5,470,765
26$8,127,994$2,031,998$406,400$5,689,595
27$8,453,113$2,113,278$422,656$5,917,179
28$8,791,238$2,197,809$439,562$6,153,866
29$9,142,887$2,285,722$457,144$6,400,021
30$9,508,603$2,377,151$475,430$6,656,022
Total$171,000,000$42,750,000$8,550,000$119,700,000
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